Cloudbet Live Odds Complaint

[Optional]

A player complains of price gouging by Bitcoin sportsbooks Cloudbet and Directbet.

They say Cloudbet consistently offers bogus odds.

EG: -1112 / +210 Cardinals vs. Diamondbacks in-play, Cardinals up 1-0. They say Bet365 had the odds at -375/+280.

Is this unfair or just a business setting their prices as they like?

They complain this is unfair because there are only two books offering live Bitcoin betting, Cloudbet & Directbet, so they have the market cornered, and can offer whatever prices they like. They suggest Directbet and Cloudbet act the same way.

The player also points out their rule; "7.20. Cloudbet reserves the right to declare a bet void, totally or partially, if it is obvious that bets has been made at odds that are clearly wrong and stand out from odds offered by other gaming
companies;"

And asks if bets like the example above should have action under the rule.


Opinions?

[dirtdog52658]

They can offer whatever odds they like up to players not to bet there. As far as bitcoin live betting goes I'm pretty sure Anonibet offers something that is similar to Europe. And if the player wanted to they could play with 5Dimes or betonline now that they take bitcoins as well.

[relaaxx]

unfortunately - they get to write the rules - you get to decide if you want to play there under the rules they have. with the odds as they are in this case - that can't be the only way they are taking advantage of customers.

[Optional]

Those two posts are in line with my response. But the player was not happy and thinks SBR should try to do something about it.

I asked here as I want to make sure I wasn't being too blase about it.

[dirtdog52658]

Yea it really sucks that books like this manage to stay operational, but its up to the player to select their books.

[raiders72001]

Betcoin.ag also has live betting. Jetwin and Nitrogen have it in the works. Even though a bad line rule is listed in most of the books, none of the bitcoin books have claimed bad line to my knowledge.

Some books were caught on steam when they were slow to move when LeBron James was sitting along with when Popovich sat the big 3. They pay if slow to move. I'm sure bad lines will occur in the future.

[raiders72001]

As far as the lines being competitive, many bitcoin books have reduced juice pregame. During the football season, -105 can be found. There are books with more pregame offers than any fiat book located in CR, Curacao or Panama. I'd assume some European books are the same but I'm not familiar with European books.

The weakness of bitcoin books is live betting. The hold is very high at this time. With more bitcoin books adding live betting it makes sense that competition will lead to lower holds.

[sbrzol]

A player complains of price gouging by Bitcoin sportsbooks Cloudbet and Directbet.


Opinions?

directbet odds is from betfair (back odds) and if there is only 1-9 EUR on one side at betfair then Directbet wont copy it (they could do with some math as betfair does it, if it is a 2 way market only) so they will offer only one participant on the given market

you can use the betfair exchange API (or by hand at betfair site) how much money is enough on a participant for Directbet to copy those odds (- X %)

for example Back: 1.67 20 EUR 1.69 20 EUR - Lay: 1.75 10 EUR Directbet will copy it (2 month earlier they did it, but now it is harder to exploit it , to make fake odds and bet on it at directbet ) (You can test it by yourself at betfair)

[Bigbill365]

thnks for lending me 2 points i won 100 in poker lol